EU seeks stronger economic ties with Nigeria
Oyetunji Abioye
The European Union says it is committed
to ensuring the sustainability of the economic ties between Nigeria and
Europe through strategic investment in key sectors, especially
the Small
and Medium-scale Enterprises.
The Head, EU Delegation in Nigeria, Ambassador Michel Arrion, said this at the fifth EU-Nigeria Business Forum in Lagos.
The forum was declared open by Governor Akinwunmi Ambode of Lagos State.
The business forum, tagged ‘Harnessing
Nigeria’s potential for economic growth’, was the follow-up to last
year’s edition, which focused on the development of agriculture and
allied businesses.
According to Arrion, Nigeria has economic potential that is conducive for Foreign Direct Investment from the EU.
The EU official said the forum was
organised to allow business leaders and policymakers to discuss ways to
improve the business environment and attract European investments into
Nigeria.
He said, “The European Union and Nigeria
have developed robust economic relations with very large trade volumes
at €30bn in 2015. Nigeria is also a key beneficiary of the EU Foreign
Direct Investment.”
According to him, the EUNBF has been put
together to explore opportunities in the EU and Nigerian SMEs to enable
them to increase their business through the Enterprise Europe Network
platform, which was formally launched at the forum.
Other objectives of the forum included
exploring available options for accessing long-term finance for the
power sector in Nigeria, and to identify opportunities in the textile
value chain.
Arrion believes that the EEN will provide increased business and partnership opportunities between Nigeria and European SMEs.
The State Secretary, Ministry of Foreign
and European Affairs, Slovak Republic, Lukas Parizek, said they were in
the country to strengthen the economic partnership between Nigeria and
the EU.
He said, “We are here to help diversify
the Nigerian economy. Moreover, it will be helpful in the current
context of persisting low oil prices that Nigeria has to face. Not only
does Nigeria represent a key partner for the EU, it is also a hub for
the whole region and Africa.
“Although bilateral relations between
the EU and Nigeria have always been strong, trade and investment links
can still be improved. We have a clear interest in enhanced commercial
relations between our regions.”
The President, Lagos Chamber of Commerce
and Industry, Dr. Nike Akande, informed the forum that the Federal
Government was taking steps to reduce its reliance on oil by focusing
attention on manufacturing, infrastructure, agriculture and agro-allied
industries, solid minerals among other non-oil sectors.
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